L&T Fired 14000 Employees

Larsen & Toubro, India’s biggest engineering firm, has shed 14,000 employees, or 11.2% of its total workforce, in one of the biggest corporate retrenchment exercises in recent times. The $16-billion diversified conglomerate said on Tuesday the step was an attempt to “right size” its strength in the face of business slowdown. Digitisation of operations also caused redundancies that led to downsizing.

The reason stated by the company was that they are trying to right size the organisation according to their strength in the wake of a slowdown in business. Some facts about the layoff are: